{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-24-012736","form_type":"8-K","ticker":"BKYI","cik":"0001019034","company_name":"BIO KEY INTERNATIONAL INC","filed_at":"2024-04-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:16.907513+00:00","generated_at":"2026-06-03T13:23:25.573154+00:00","sec_items":["3.01","4.02","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"BIO-key restates FY2023 quarterly financials due to revenue recognition errors; receives Nasdaq non-compliance notice","bullets":["Audit committee found errors in revenue recognition at Swivel Secure Europe for Q1-Q3 2023.","Previously issued financials for Q1, Q2, Q3 2023 and related press releases no longer reliable.","Revenue overstated, accounts receivable overstated; allowances and reserves understated; net loss understated.","Nasdaq notice for late 10-K filing; 60 days to submit plan, extension possible to Oct 14, 2024.","Company plans to file restated financials and annual report as soon as practicable."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-24-012736","json":"https://secwatch.observer/filing/0001437749-24-012736.json","markdown":"https://secwatch.observer/filing/0001437749-24-012736.md","text":"https://secwatch.observer/filing/0001437749-24-012736.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1019034/000143774924012736/0001437749-24-012736-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1019034/000143774924012736/bkyi20240422_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T13:23:25.573154+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3ee116d76fbc1c453a4be40fd1e3688933c23982","claim":"BIO KEY INTERNATIONAL INC reported that prior financial statements should not be relied upon.","evidence_excerpt":"months ended June 30, 2023, and the three and nine months ended September 30, 2023 included in the Company’s previously filed Quarterly Reports on Form 10-Q for such periods (collectively, the “ Financial Statements ”) should no longer be relied upon. Similarly, any previously issued or filed reports, press releases, earnings releases, or other communications describing the Company’s financial statements and other related financial information covering the forgoing periods and the year ended December 31, 2023, including the Company’s Notification of Late Filing on SEC Form 12b-25 filed on April 2, 2024 and the Company’s April 1, 2024 press release, should no longer be relied upon. In the course of the audit of the Company’s consolidated financial statements for the fiscal year ended December 31, 2023, the Company determined that certain errors were made which require the restatement of","evidence_source":"SEC 8-K Item 4.01/4.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1019034/000143774924012736/0001437749-24-012736-index.htm","confidence":0.9,"family_label":"Auditor Changes","details":[{"label":"Action","value":"non reliance"},{"label":"Auditor","value":"Marcum LLP"}],"fact_type":"auditor_change"},{"claim_id":"da05dfc09cafcfa15663e48b0ece417a3f20852c","claim":"BIO KEY INTERNATIONAL INC received a nasdaq deficiency notice notice regarding late filing (rules 5250(c)(1)).","evidence_excerpt":"April 17, 2024, BIO-key International, Inc. (the “ Company ”) received notice from The Nasdaq Stock Market, LLC (“ Nasdaq ”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (“ SEC ”), due to the Company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “ Form 10-K ”). The notification letter has no immediate effect on the listing or trading of the Company’s common stock on","evidence_source":"SEC 8-K Item 3.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1019034/000143774924012736/0001437749-24-012736-index.htm","confidence":0.9,"family_label":"Listing & Compliance Notices","details":[{"label":"Exchange","value":"nasdaq"},{"label":"Notice","value":"deficiency notice"},{"label":"Deficiency","value":"late filing"},{"label":"Rules","value":"5250(c)(1)"}],"fact_type":"exchange_compliance_notice"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}